Crowdfunding platform Readyfor has unveiled its first funding round, with investors including Globis, since launching from the wings of Tokyo internet services spinout Ohma in 2014.

Readyfor, a Japan-based crowdfunding platform associated with University of Tokyo, has received ¥530m ($4.7m) from investors including Globis Capital Partners, the investment arm of business school Globis, The Bridge has reported.

Venture capital firm Mistletoe also participated in the round, along with private investors Yasuharu Ishikawa and Fumiaki Koizumi.

Readyfor began life in 2011 as a side-business of University of Tokyo internet services spinout Ohma before launching as an independent company in 2014.

The company’s crowdfunding platform focuses on projects that cannot be funded through traditional means, including causes sponsored by individual users and schemes listed by regional authorities or universities.

The funding will help Readyfor introduce improved features for its service, such as more consistent project financing and an upgraded system for backing municipal initiatives.

Minoru Imano, managing partner at Globis Capital Partners, has joined Readyfor’s board in conjunction with the investment. The company also appointed Kaoru Sugano, executive creative director at advertising group Dentsu, as a creative advisor to assist with building its brand.